Morning Briefing: Skeena Receives Final Environmental Management Act Permit
Good morning and welcome back to the Mining Stock Daily morning briefing. This is Trevor Hall.
It’s Tuesday, February 3rd.
Metals are rallying this morning. After heading south and bouncing off of its 50 day moving average yesterday, gold is attempting to work off that selling pressure, currently up over 6% on its front month contract to $4,945/oz. Silver futures are up nearly 14% at time of recording, to 87.69 an ounce. Copper is back above the $6 level today, with a rise of more than 4 and a half percent. Chinese manufacturers have returned to the copper market to stock up before the Lunar New Year holiday. The US is preparing to launch a strategic stockpile of critical minerals backed by $12B, aiming to protect manufacturers from supply disruptions as the US accelerates efforts to reduce dependence on Chinese metals. The start of “Project Vault” would combine $1.67B in private capital with a $10B loan from the US Export-Import Bank to buy and store minerals for automakers, technology companies, and other industrial users. Ivanhoe’s Robert Friedland was at the White House yesterday, celebrating the news with President Trump.
We’ll get to the news from the miners and explorers here in a moment, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Equinox Gold.
Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at equinoxgold.com
And here’s what you need to know this morning…..
Skeena Resources says they have received the Environmental Management Act Permit from the British Columbia Ministry of Environment and Parks for its Eskay Creek Gold-Silver Project. Receipt of the EMA Permit completes the permitting process for Eskay Creek and represents the final regulatory approval required to advance the Project into commercial development, with mining operations targeted to restart in the second quarter of 2027. The permit was jointly approved with the Tahltan Central Government and was submitted as part of a joint application together with the B.C. Mines Act Permit that was received by the Company a week ago. (TSX: SKE, NYSE: SKE) News Release
Cartier Resources have published their seventh batch of drill results from its program on the Cadillac Project located in Val-d’Or. Today’s results come from the North Contact Zone, or NCZ. The NCZ consists of three parallel high-grade gold zones: NC1, NC2 and NC3, spaced approximately 50 m apart. Holes CA25-557, 558 and 559 discovered high-grade gold zones 500 metres along eastern strike extension of the NC1 and NC3 gold zones, significantly expands the North Contact main mineralized system. These new results, consistently associated with visible gold grains and sulphides, demonstrate the gold-fertile and robust geological continuity of the Contact Sector. Those hits returned 54.6 g/t Au over 1m, 4.4 g/t Au over 6m and 7.5 g/t over .5m. Other holes reported today show the NCZ extends to surface with 1.5 g/t au over 15.5m and 1.2 g/t over 13.2m. Further expansion drilling is planned to expand NCZ gold mineralization at depth (300-600 m), connect footprint of NCZ and its eastern extensions and determine gold enrichment with the primary objective of upgrading the mineral resource estimate. (TSXV: ECR) News Release
Spanish Mountain Gold reported additional assay results from four exploration holes within the Orca Fault target trend on the Spanish Mountain Gold Project in British Columbia. Highlights included 108.8m of .68 g/t gold, 103.55m of .88 g/t Au and 116.5m of .44 g/t. The company says all results to date continue to reinforce that tighter exploration drill spacing is unlocking additional mineral potential in the Main deposit. The company has completed approximately 10,870 metres, surpassing the original estimate of drilling of 9,000 to 10,000 m of exploration drilling planned under the 2025 Fall Drill Program, now continuing into 2026. Assays and geochemistry are pending receipt from the laboratory and/or reporting from four additional drill holes completed within the Orca Fault target area. (TSX-V: SPA)(OTCQB: SPAUF) News Release
Nevada King Gold reported new assay results at the Silver Park East target, which is about 2km west of the Atlanta Resource Zone on the company’s Atlanta Gold Mine Project in Nevada. With a 350m step-out, drilling returned .93 g/t AuEq over 14.6m and .69 g/t AuEq over 14.6m. Mineralization found at both the main SPE zone and in today's holes is hosted along the unconformity, the main control of mineralization at Atlanta, which appears to be shallowing out to the south where it has now been intercepted at surface. Immediately 50m west of the target, drilling returned .23 g/t AuEq over 29.3m and ending in mineralization. This confirms gold and silver mineralization across a 300m by 500m footprint at SPE, while demonstrating a clear link toward the mineralization encountered at surface a further 350m to the south. Additional drilling is planned to connect these two zones, which would significantly increase the size of the SPE target. (TSXV: NKG) (OTCQB: NKGFF) News Release
Scottie Resources reported new assay results from 2025 drilling at the Blueberry Contact Zone at the Scottie Gold Mine in BC. These latest assays support Scottie's growing confidence in the predictability of the system as drilling density increases across key vein corridors, a critical factor for enhancing geological confidence and supporting future mine planning and development scenarios. Results reported today include 15.8 g/t Au over 12m and 10.4 g/t over 8.95m. (TSXV: SCOT) (OTCQB: SCTSF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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